SRA back on hunt for price transparency rule breakers
Following the end of the Coronavirus related hiatus on disciplinary action, the Solicitor’s Regulation Authority (SRA) is once again looking at firms who flout the price transparency rules.
At the start of this week, Paul Philip, Chief Executive of the SRA provided his monthly update to the board and outlined the steps the organisation were going to take as they once again began to hunt for those firms who were non-compliant.
At the board meeting, Paul Philip revealed that a survey in July found that 470 firms had indicated that their compliance levels are improving. However, a ‘small minority’ have not provided the assurance needed by the SRA.
“We will be following these issues up over the coming weeks and will make further referrals into our disciplinary procedures if required. We will also be writing to further cohorts of firms over the next four months to assess ongoing levels of compliance.”
For two years, it has been a requirement for regulated firms to publish information regarding costs for conveyancing, immigration, employment, road traffic offences work, employment, licensing and debt recovery work (up to the value of £100,000) offered to businesses.